Online Trading?
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A friend of mine wants to trade online and asked me what are some pros and cons about online investing, but I never tried online trading. What are some good online trading companies to look at? Also, any other advice.
Pros - You may make money Cons - You may lose money Companies - Etrade, Scottrade, AmeritradeA friend of mine wants to trade online and asked me what are some pros and cons about online investing, but I never tried online trading. What are some good online trading companies to look at? Also, any other advice.
Cheapest is Masco.com with 3.95 trades.
Schwab has 8.95 trades. TDAmeritrade is 9.95. Does he want to trade bonds? Bond inventories vary greatly so that might be the deciding factor. Does he want to trade contracts as well as securities? The prices differ on them as well.He just wants to strictly invest in stocks. What about brokerage fees and other fees attached?
Tell your friend that google is available to do research such as this. Aren't you in the biz? Why would you want to send your friend to some online trading platform??[/quote] I do not have a series 7 yet, but have series 6, 63, 65, and life license. I told him to do some due dilligence and talk to some qualified brokers. However, he has a hard time trusting people, especially brokers, sales people, etc.... Also, he is just investing like three-thousand dollars from his tax return.[quote=VenomRx]He just wants to strictly invest in stocks. What about brokerage fees and other fees attached?
Tell your friend that google is available to do research such as this. Aren't you in the biz? Why would you want to send your friend to some online trading platform??[/quote] I do not have a series 7 yet, but have series 6, 63, 65, and life license. I told him to do some due dilligence and talk to some qualified brokers. However, he has a hard time trusting people, especially brokers, sales people, etc.... Also, he is just investing like three-thousand dollars from his tax return.[/quote][quote=AGEMAN][quote=VenomRx]He just wants to strictly invest in stocks. What about brokerage fees and other fees attached?
He doesn't even know what the pros and cons are of online trading and he wants to make investment decisions? And people want to know why the average American has lost so much money in their 401k's and retirement accounts.
Does he want to speculate or invest? In other words, is this his Vegas away from Vegas, or is he interested in building towards something? I would suggest he know the difference, otherwise the money will be gone before he knows it, whatever the ticket charges are.A friend of mine wants to trade online and asked me what are some pros and cons about online investing, but I never tried online trading. What are some good online trading companies to look at? Also, any other advice.
Tell your friend that google is available to do research such as this. Aren't you in the biz? Why would you want to send your friend to some online trading platform??[/quote] I do not have a series 7 yet, but have series 6, 63, 65, and life license. I told him to do some due dilligence and talk to some qualified brokers. However, he has a hard time trusting people, especially brokers, sales people, etc.... Also, he is just investing like three-thousand dollars from his tax return.[/quote][quote=VenomRx][quote=AGEMAN][quote=VenomRx]He just wants to strictly invest in stocks. What about brokerage fees and other fees attached?
He doesn't even know what the pros and cons are of online trading and he wants to make investment decisions? And people want to know why the average American has lost so much money in their 401k's and retirement accounts.
[/quote] I am sure he knows he the pros (might make some money) and cons (might loose some money), but I think he means aside from that, maybe like hidden fees, etc...
Does he want to speculate or invest? In other words, is this his Vegas away from Vegas, or is he interested in building towards something? I would suggest he know the difference, otherwise the money will be gone before he knows it, whatever the ticket charges are.[/quote] Invest.[quote=VenomRx]A friend of mine wants to trade online and asked me what are some pros and cons about online investing, but I never tried online trading. What are some good online trading companies to look at? Also, any other advice.